The homestead exemption is a statewide program, administered here in Franklin County by Auditor Clarence Mingo, which allows senior citizens and permanently and totally disabled homeowners to reduce their property tax burden by shielding some of the market value of their home from taxation.
The exemption, which takes the form of a credit on property tax bills, allows qualifying homeowners to exempt $25,000 of the market value of their homes from all local property taxes. For example, an eligible owner of a home with a market value of $100,000 will be billed as if the home were valued at $75,000.
The primary responsibilities of the homestead section are to assist taxpayers with the homestead exemption application process as well as maintain and update existing application records. More than 57,000 Franklin County homeowners are taking advantage of the homestead tax exemption. Those residents saved a combined $31.7 million in 2012.
This department also administers a 2.5% supplemental property tax rollback given to homeowners on their annual tax bill for their primary place of residence. Call 614-525-3240 if you have any questions.
These reductions were created as a benefit for homeowners who live in Ohio and make it their permanent residence. To qualify for either the 2.5 percent reduction or the homestead exemption for seniors or the disabled, a homeowner must own and occupy the homestead as their primary domicile as of January 1 of the tax year. A homeowner and his/her spouse are entitled to claim a reduction on one property only.
Because of a change in state law, beginning in 2014, new homestead exemption applicants will be subject to an income means test. Existing homestead recipients will continue to receive the credit without being subject to the income test and do not have to resubmit an application.
Auditor Mingo has extended the deadline to apply for the 2013 tax year credit until Dec. 31, 2013. While current recipients do not have to apply, please inform anyone you know who is 65 or older, or totally and permanently disabled, and who owned their home Jan. 1, 2013 about this tax break.
Should you have further questions and/or concerns, please do not hesitate to contact our office at 614-525-3240 or email us at ClarenceMingo@franklincountyohio.gov.